B/E Aerospace moves into energy
An aerospace company with a large base in Co Down is acquiring an energy firm in a bid to expand into the oil and gas industry.
B/E Aerospace is buying Blue Dot Energy Services in a deal worth around $75m (£48m), which it expects to close by the end of August.
B/E Aerospace in Kilkeel makes internal seats and furnishings for a range of passenger aircraft.
The company has its largest UK manufacturing facility in Northern Ireland but also has operations in England and the USA.
It also has offices in the Netherlands and Germany.
Last year, employment in the UK business -- including Kilkeel -- climbed by over 100, while turnover was up £30m and pre-tax profits up £17m.
Blue Dot is a provider of oil-field services in the Appalachian Basin area, with facilities in West Virginia, Pennsylvania, and Ohio and the company provides rental tools, equipment and services.
Chairman, founder and chief executive of B/E Aerospace Amin Khoury said that a move into the energy market was part of the firm's long-term vision for growth.
The company employs around 1,000 people in total.
Belfast Telegraph Digital